The NBN is included in the governments financial accounts, it is on the balance sheet as per international accounting standards.
Further to sherlock's question, I am baffled how an "asset" as it is being coined by the current Government, that is under construction at a massive outlay, can miraculously appear on a balance sheet.
I am no accountant, but wouldn't there have to be a cost or payment recorded on the P & L to produce an asset? Or has the Government just been "given" the asset and there was no purchase or establishment costs to record or pay out?
Of course in a few years time when the Government realise this "asset" isn't any use to them anymore, they will "sell" it back to the real owners who paid for it in the first place. ala Telstra. So the good ole taxpayer gets to pay for the "asset" for the Government to hold on their balance sheet, then they get to pay more money to buy a share in what they already have fully paid for. What a scam!...wouldn't it be great if we could do that in private enterprise! But I think the ATO just might take a dim view of that little operation...
